Corn Wave Analysis – 18 March, 2020

• Corn broke long-term support level 342.00
• Likely to fall to 330,00

Corn recently broke below the strong, long-term support level 342.00 (former monthly low from April and May of 2019 – which started the previous sharp weekly uptrend).

The breakout of the support level 342.was preceded by the breakout of the daily down channel from October -accelerating the active impulse waves 3 and (3).

Corn is likely to fall further toward the next support level 330,00 (target price for the termination of the active impulse wave (3)).